Photo: greenbutterfly/stock.adobe.com Thriving DIY Legal Tech Market Attracts Newcomers, But Don't Expect 'Gold Rush'
A pent-up demand for access to legal services and the attention paid to LegalZoom's recent IPO could help push more entrepreneurs into the DIY space, but restrictions on services offered by nonlawyers and the novelty of such solutions could prove to be a major stumbling block.
July 12, 2021 at 11:00 AM
3 minute read
There's no time like the present—a sentiment that may currently apply in abundance toward entrepreneurs or even law firms looking to enter the legal DIY or self-service tech space. Still, any influx of new entrants into the DIY market could resemble more of a steady trickle than a sudden flood given the relative novelty of self-service legal solutions and restrictions around what type of entities can offer legal services.
Brad Blickstein of the Blickstein Group thinks that now is "a great time to launch something." He cited factors such as LegalZoom's recent initial public offering, the pent-up demand for legal services coming out of a pandemic-induced slowdown, and a "huge" access-to-justice gap as factors that could help push new entrants into the legal DIY space.
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